tags.
Next paragraph: "The bill aimed to resolve the long-running turf war between the SEC and CFTC over which agency regulates which tokens. It would have defined most cryptocurrencies as commodities under CFTC oversight, while keeping a subset of tokens under SEC authority if they met certain decentralization thresholds. Without it, the regulatory vacuum persists — and that uncertainty is exactly what markets hate."
Translate: "Rang undang-undang itu bertujuan untuk menyelesaikan pertikaian lama antara SEC dan CFTC mengenai agensi mana yang mengawal token mana. Ia akan mentakrifkan kebanyakan mata wang kripto sebagai komoditi di bawah pengawasan CFTC, sambil mengekalkan sebahagian token di bawah kuasa SEC jika mereka memenuhi ambang desentralisasi tertentu. Tanpa itu, kekosongan kawal selia berterusan — dan ketidakpastian itu adalah perkara yang paling dibenci oleh pasaran."
We need to translate "turf war" - "pertikaian" or "perang wilayah" but "turf war" is idiomatic, so "pertikaian" is fine. "commodities" - "komoditi". "decentralization thresholds" - "ambang desentralisasi". "regulatory vacuum" - "kekosongan kawal selia". "markets hate" - "pasaran benci" but we can say "dibenci oleh pasaran" for natural flow.
Next heading: "Why the timing matters" -> "Mengapa masa itu penting" or "Mengapa pemasaan penting" - "pemasaan" is a bit technical, but "masa" is fine. Let's use "Mengapa masa itu penting".
Paragraph: "This isn't a procedural hiccup. The failure comes as crypto prices are already under pressure from macroeconomic headwinds and a string of enforcement actions. Lawmakers had signaled a bipartisan deal was close, but the clock ran out before the August break. Now the earliest the bill could move is September, and with midterm elections looming, the window for compromise is narrowing fast."
Translate: "Ini bukan sekadar gangguan prosedur. Kegagalan itu berlaku ketika harga kripto sudah berada di bawah tekanan daripada cabaran makroekonomi dan beberapa siri tindakan penguatkuasaan. Penggubal undang-undang telah memberi isyarat bahawa perjanjian dua parti hampir selesai, tetapi masa tamat sebelum cuti Ogos. Kini, tarikh terawal rang undang-undang itu boleh bergerak ialah September, dan dengan pilihan raya pertengahan penggal semakin hampir, peluang untuk kompromi semakin mengecil dengan cepat."
We need to translate "procedural hiccup" - "gangguan prosedur" is fine. "macroeconomic headwinds" - "cabaran makroekonomi" or "tekanan makroekonomi" - "headwinds" means opposing forces, so "cabaran" is good. "bipartisan deal" - "perjanjian dua parti" or "perjanjian bipartisan" - but we can say "perjanjian dua parti" for clarity. "clock ran out" - "masa tamat" or "masa habis". "midterm elections" - "pilihan raya pertengahan penggal" - that's a bit long, but we can say "pilihan raya pertengahan" but it's specific to US, so "pilihan raya pertengahan penggal" is fine. "window for compromise" - "peluang untuk kompromi" or "tingkap untuk kompromi" - "tingkap" is literal, but "peluang" is better.
Next heading: "What happens next" -> "Apa yang berlaku seterusnya" or "Apa yang akan berlaku seterusnya" - we'll use "Apa yang berlaku seterusnya".
Paragraph: "With Congress stalled, the SEC is expected to fill the void. Chair Gary Gensler has already hinted at rulemaking on crypto exchanges and stablecoins. The failure of the CLARITY Act likely gives him more cover to act unilaterally — something industry groups have warned could lead to a patchwork of state and federal rules. Meanwhile, the CFTC may also step up enforcement against platforms that offer digital asset derivatives without proper registration."
Translate: "Dengan Kongres terhenti, SEC dijangka mengisi kekosongan itu. Pengerusi Gary Gensler telah memberi bayangan tentang penggubalan peraturan mengenai bursa kripto dan stablecoin. Kegagalan Akta CLARITY mungkin memberinya lebih perlindungan untuk bertindak secara unilateral — sesuatu yang kumpulan industri telah memberi amaran boleh membawa kepada pelbagai peraturan negeri dan persekutuan. Sementara itu, CFTC juga mungkin meningkatkan penguatkuasaan terhadap platform yang menawarkan derivatif aset digital tanpa pendaftaran yang betul."
We need to translate "fill the void" - "mengisi kekosongan" is fine. "rulemaking" - "penggubalan peraturan" or "pembuatan peraturan". "stablecoins" - "stablecoin" is commonly used. "cover" - "perlindungan" or "alasan" - but "cover" here means justification, so "perlindungan" might not be exact. "more cover" - "lebih banyak alasan" or "lebih banyak perlindungan" - but "cover" in this context means "justification" or "authority", so we can say "lebih
